Business Other News 10 Aug 2019 Government, RBI work ...

Government, RBI working to boost growth: Finance Minister

FC INVESTIGATIVE BUREAU
Published Aug 10, 2019, 1:18 am IST
Updated Aug 10, 2019, 1:31 am IST
She said the government is looking at the financial sector woes and will address them in the coming weeks.
Finance Minister Nirmala Sitharaman
 Finance Minister Nirmala Sitharaman

New Delhi: Finance Minister Nirmala Sitharaman on Friday said the government and Reserve Bank of India (RBI) are working together in synergy and are making efforts to lift the economy and incentivise investments.

Earlier in the day, in her  sectoral meeting at the CII National Conference, many industry captains gave their inputs to her on how to boost the ailing economy. “With the government and the RBI working together in synergy in a cordial relationship, the ecosystem will help incentivise investments. We are on the same page as regards to efforts that are required to boost the economy,” she said.

 

She said the government is looking at the financial sector woes and will address them in the coming weeks. Assuring the industry she said the government would have a re-look at the penal provisions concerning CSR investment.“Our intention is not to criminally prosecute anybody,” Sitharaman said.

Later capital market participants and foreign institutional investors presented to her a charter of demands, which included rollback of surcharge on foreign portfolio inves-tors, review of dividend distribution tax and lowering the long-term capital gains tax, it is learnt. Sources said Sitharaman gave a patient hearing to them but didn’t making any commitments.

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Location: India, Delhi, New Delhi




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